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Assessing the social impact of digital financial
services innovation towards poverty reduction through
micro-credit, acces...
LOOK UP ZIMBABWE, THE FUTURE IS BRIGHT!
“We have just began our new refreshed journey of hope. I am excited to present to ...
DIGITAL FINANCIAL SERVICES INNOVATION
“Unbanked people are increasingly gaining access to financial services through
digit...
LAYING THE FOUNDATION
• 9.2m customers
• 6.0m Ecocash customers
• 1.5m Ecocash$ave A/C holders
• 35,000 airtime vendors
• ...
ECOCASH SOCIAL IMPACT
…over 6 million registered
customers, equal to 70% of
Zimbabwe’s adult population
…$16 billion value...
ECOCASH PRODUCT INNOVATION LIFECYCLE
Early Stage Growth Stage Adoption Stage Consolidation Stage
1-2Years 2-3Years 3-4year...
DIGITAL INSURANCE SERVICES
• Using Technology to drive adoption of micro insurance – 1.2m unique Registered subscribersTec...
DIGITAL SAVINGS
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Agent Banking Conference_140716 Eddie

  1. 1. Assessing the social impact of digital financial services innovation towards poverty reduction through micro-credit, access to digital savings and digital insurance services 14 JULY 2016 Presented by: Eddie Chibi ECOCASH ZIMBABWE
  2. 2. LOOK UP ZIMBABWE, THE FUTURE IS BRIGHT! “We have just began our new refreshed journey of hope. I am excited to present to you our new brand. It is a mark *of authority, a stamp of excellence and a promise of execution. Most importantly, it carries a message of hope and an exhortation to Look Up …the future is bright.” Douglas Mboweni CEO Econet Wireless Zimbabwe
  3. 3. DIGITAL FINANCIAL SERVICES INNOVATION “Unbanked people are increasingly gaining access to financial services through digital channels. Banks, microfinance institutions, mobile operators, and other providers are using mobile phones and point-of-sale devices, along with networks of small-scale agents, to offer basic financial services at greater convenience and lower cost than traditional banking allows. Also referred to as “Agent” banking, these digital services offer great promise for better serving poor customers.” Source: CGAP – Digital Financial Services
  4. 4. LAYING THE FOUNDATION • 9.2m customers • 6.0m Ecocash customers • 1.5m Ecocash$ave A/C holders • 35,000 airtime vendors • 26,000 Ecocash Agents • 20,000 Ecocash merchants • 2,000 Brand Ambassadors • 1,200 Green Kiosks issued Free • 3,114 Billers & Payroll partners • 250 branded shops • Widest 2G, 3G, 4G, Wi-Fi & Fibre coverage
  5. 5. ECOCASH SOCIAL IMPACT …over 6 million registered customers, equal to 70% of Zimbabwe’s adult population …$16 billion value + 622m volumes transacted since launch …adults with access to formal financial services increased from 18% to 69% after EcoCash launch 1.5 million savings accounts vs. 1.5m bank accounts in Zimbabwe …450,000 debit cards issued …over 50,000 entrepreneurs operating as agents & merchants across the country 69% 18% 0% 10% 20% 30% 40% 50% 60% 70% 80% 2014 (After EcoCash) 2011 (Before EcoCash) Adults Formally Financially Served …EcoCash ta!
  6. 6. ECOCASH PRODUCT INNOVATION LIFECYCLE Early Stage Growth Stage Adoption Stage Consolidation Stage 1-2Years 2-3Years 3-4years 4 Years + StageofInnovation • Digital savings and micro-credit were launched within the growth and adoption stage  Money Transfer  Airtime  Cash in  Cash out  Offline Pay bill  Banking Services  Online Biller  EcoCash Save  Bulk Pay  EcoCash loans  EcoCash Payroll  Remittances  Debit card  Save Plus  EcoShopper  Languages  Group Savings  EcoCash App  Contactless Card  EcoCash Ta!  Merchant Payments  Bulk Payments  Remittances  Airtime  Interoperability  Agent Management  Customer Management  Customer Activity
  7. 7. DIGITAL INSURANCE SERVICES • Using Technology to drive adoption of micro insurance – 1.2m unique Registered subscribersTechnology • 16% of adult population insured under EcoSure • According to FinScope, as at 2014 (before EcoSure) only 26% of the adult population had formal insurance. • With only 1.5 years of operation, EcoSure has already managed to insure over 61% of what all traditional insurers have covered. Execution • ZFU insurance package • Ecofarmer Insurance productFarmers Inclusion • Transforming the traditional Burial Societies into formal insuranceInnovation
  8. 8. DIGITAL SAVINGS
  9. 9. Thank you

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